4-Unit
2821 Simpson Avenue, Hoquiam, WA 98550
For Sale
$495,000
Four separate residential units are contained within one multifamily property.
Property Size3,224 SF
Price / SF$153.54
Days on Market53
Property Features for 2821 Simpson Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
COMPASS
(425) 637-7777
Listed By:
Kenneth Patton · License #26847
(425) 894-8974
Source:
Dulayhomes
Added: Sep 17
Changed: Nov 7
Last Checked: Nov 8 at 7:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COMPASS
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Hoquiam quadplex contains four residential units across 3,224 square feet. The property was built in 1977 and is located at 2821 Simpson Avenue in Hoquiam, Washington.
Key Highlights
- Four residential units in one multifamily property
- 3,224 square feet
- Built in 1977
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,431
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,620
$588.6K
Cap Rate 7%
$420,443
$420.4K
Cap Rate 9%
$327,011
$327.0K
Market Conditions
NOI Build-Up for 3,224 SF
Gross rent
$44.5K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$42.0K $13.04/SF
− OpEx
−$12.6K −$3.91/SF
NOI
$29.4K $9.13/SF
Area
Grays Harbor County, WA
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,620
Cap Rate 7%
$420,443
Cap Rate 9%
$327,011
Alternative Uses
Best Use
Multifamily LT 5
$420.4K
$367.9K – $490.5K
NOI $29,431 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$389.9K
$341.1K – $454.8K
NOI $27,290 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$888.7K
$777.6K – $1.04M
NOI $62,210 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
Explore this area
Business Placement
Demographics for 98550, WA
11,502
Population
5,373
Households
2.1
Avg Household Size
43
Median Age
19%
College-Educated
92%
High-School Grad
266.0 sq mi
ZIP Area
43
Density / Sq Mi
$56,920
Median Household Income
$36,185
Median Earnings
$1,003
Median Rent
$212,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separate residential units are contained within one multifamily property.
Where is this quadplex located?
The property is located at 2821 Simpson Avenue Hoquiam, WA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Four residential units in one multifamily property; 3,224 square feet; Built in 1977
